Antigua & Barbuda To Benefit From US$ 15 Million In Renewable Energy Financing

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Antigua & Barbuda is among four Caribbean countries to benefit from over US$ 105 million to assist their renewable energy transition.

The Abu Dhabi Fund for Development (ADFD today confirmed the allocation for eight renewable energy projects four of which are in the Caribbean region.

Antigua & Barbuda, Cuba, St. Lucia and St. Vincent & the Grenadines will be among the eight countries to benefit.

In Antigua and Barbuda, an 8 MW hybrid power plant (solar and wind) will receive an ADFD investment of US$15 million.

The project is expected to benefit 5,500 households and allows for large reductions in the import of fossil fuels.

Antigua & Barbuda’s Ambassador to IRENA Conrod Hunte told the Caribbean News Service that the funds will help provide back-up power for schools and health facilities.

Hunte says the selection does not mean the funds are available now and could take another year.

For residents Hunte says project would mean that schools can continue to function in the event of disaster that knocks out power.

In Saint Lucia, the 10 MW Troumassee solar power station, battery storage and setting up solar energy systems in the country, will receive an ADFD loan of US$15 million.

 The venture will support the whole population, economic development, advance the implementation of Saint Lucia’s national energy policy and reduce diesel fuel consumption.

St. Lucia’s representative says the funding help transform the energy sector on the island and help contribute to the development of the people.

In Saint Vincent and the Grenadines, an ADFD loan of US$10 million will support the installation of a 7 MW solar PV project and benefit 2,444 households. The renewable energy venture aims to reduce carbon emissions, fossil fuel consumption and operating costs.

St. Vincent said it was happy to be selected because it is important for the sustainable development of the islands.

The island says it will help in the realisation of 80 per cent renewable energy by 2022.

In Cuba, a project will receive an ADFD loan of US$20 million to install 8.5 MW of solar PV capacity, supported with 2 MW of energy storage, in Isla de la Juventud. The project will benefit 32,300 people, aims to support the energy sector, decrease fossil fuel consumption, reduce the level of carbon emissions and secure energy consumption from renewable and sustainable sources.

The other countries to benefit are Burkina Faso, the Maldives, Nepal and Chad.

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2 COMMENTS

  1. Is this a loan to the countries….as only “In Saint Vincent and the Grenadines project, the word “Loan” in mentioned?

  2. Notes From A Native Son Of The Rock! “If You Want To Keep A Secret, You Must Also Hide It From Yourself.” – George Orwell! This mere voice in the wilderness takes no comfort in quoting this inveterate colonialist!

    Truth, Justice and the Antigua Way! Revisit the Following from ANR: Access To Funding Remains A Major Challenge For SIDS, Antigua’s Ambassador Tells IRENA Assembly January 11, 2020; and, Grenada calls on international community to honour commitments to SIDS January 11, 2020!

    At the end of the day, everything seems to be politics, “When there is conflict over institutions, what happens depends on which people or group wins out in the game of politics” – M.I.T. economist Daron Acemoglu and the Harvard political scientist James A. Robinson, “Why Nations Fail”! The current crisis revolves to a large extent about debt! This is not a new phenomenon – in the past conflict over repayment of debt has led to revolution! “Debt is a cleverly managed reconquest of (SIDS).” – Capitaine Thomas Isidore Noël Sankara, the Upright Man, Revolutionary, Pan-Africanist theorist, and assassinated President of Burkina Faso from 1983 to 1987!

    The current global debt problems lead us to further reflect on conflicts over institutions! Does excessive debt typically cause inclusive institutions to become extractive! In the modern era, transnational institutions have become increasingly important! If we want to understand the future as well as the past we cannot ignore them! From individual nations to the United Nations to multi-national corporations and NGOs, transnational institutions are an increasingly significant part of our Caribbean Ecology!

    “The Political Problem Of Mankind is to combine three things: Economic; Efficiency, Social Justice and Individual Liberty.” – John Maynard Keynes!

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